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ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar point ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff left and les miserables it is a hollywood blockbuster meant to show off a list actor singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today while jeffrey tucker argues the latter will hear why business week's cover feature is babies crying on capitol hill but what about a study that finds babies born during recessions are more likely to be delinquent teens no word on what happens if they get elected to office we'll have more in loose change plus we'll talk sped minutes an inflationary dragons' let's get to today's capital account.
ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar point ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff left and les miserables it is a hollywood blockbuster meant to show off a list actor singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today while jeffrey tucker argues the latter...
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even as the lines are drawn in the battle over spending cuts and the debt ceiling. and then there is earning season. kicks off tomorrow with alcoa. >> banks in the spotlight this morning, bank of america settling with fannie mae with mortgages it underwrote during the housing boom. citi submitting to the feds. >> revising up, gdp forecast to 8-1, saying investing in the mass market stocks is the way to go. >> potential cuts at the magic kingdom reports disney's got internal cost-cutting review under way. >> the question of the day, can the new year rally continue. last week the s&p jumped 4.6% to a new five-year high. not only is wall street looking ahead to earnings season, beginning with alcoa tomorrow, but paying close attention to the battle over the debt ceiling and spending cuts. the big debate over whether more revenue increases should be on the table. >> the tax issue is finished, over, completed. that's behind us. now the question is, what are we going to do about the biggest problem confronting our country and our future. and that's our spending addiction.
even as the lines are drawn in the battle over spending cuts and the debt ceiling. and then there is earning season. kicks off tomorrow with alcoa. >> banks in the spotlight this morning, bank of america settling with fannie mae with mortgages it underwrote during the housing boom. citi submitting to the feds. >> revising up, gdp forecast to 8-1, saying investing in the mass market stocks is the way to go. >> potential cuts at the magic kingdom reports disney's got internal...
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Jan 11, 2013
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next month, congress will be asked again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's mr. obama's way or the highway. again, he could use an executive order to ignore the debt ceiling and i will not be surprised if he does. so, what we have here is not a failure to communicate as they once said in the movie cool hand lou. but a president who believes he can do what he wants to do with little accountability. he has already signed executive order changing immigration rules. that was done in the middle of the night. few even know about it if this continues there will be a constitutional crisis in america. unfortunately we the people are slow to understand what
next month, congress will be asked again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's...
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a dollar in the raised debt ceiling and a dollar in spending cuts, so i'm not sure where this is going. some republicans say, hey, we're going -- this is where we're going to get our spending cuts because they don't think they got any in the fiscal cliff plan that was just passed and this is where they want to make that stand. will all of them make it because it will need all republicans, particularly in the senate, to stick with that. so we'll see. it's another one of those, you know, games of chicken again. >> kind of getting tired of those, aren't you? >> me, too. need a new analogy. >> candy, thank you very much. >> thanks. >> kee it here for "state of the union" that starts in nine minutes. 9:00 a.m. eastern time right here on cnn. >>> well, this is one of our favorite stories this morning. take a look here. this black and white kitty was caught sneaking into a brazilian prison were saws, drills, batteries and a cell phone taped to its body. security guards no doubt did a double take when they caught the feline felon trying to get into the prison on new year's eve. officials say t
a dollar in the raised debt ceiling and a dollar in spending cuts, so i'm not sure where this is going. some republicans say, hey, we're going -- this is where we're going to get our spending cuts because they don't think they got any in the fiscal cliff plan that was just passed and this is where they want to make that stand. will all of them make it because it will need all republicans, particularly in the senate, to stick with that. so we'll see. it's another one of those, you know, games of...
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ceiling increase unless you give us spending cuts, they want president obama to turn around and say i'm not giving them to you and if you refuse to raise the debt ceiling i'm just going to do it, if you don't like it, sue me. is this likely? >> well, i don't think it's a likely outcome and i think if it ever came to that that the president would almost certainly lose some of his administration's lawyers have said as much. and basically what it comes down to, there's a passage in the 14th amendment to the constitution that says the validity of the nation's public debt shall not be questioned. it confers no powers on the president to do anything about that. however, article 1, section 7 of the constitution most certainly does conifer some power and it's the power upon the congress to authorize revenue measures and it specifically says that such revenue measures must originate in the house of representatives. >> megyn: right. >> an increase in the debt ceiling, which is an authorization to borrow money is inquestionably a revenue measure, you see where the power lies. i don't think the
ceiling increase unless you give us spending cuts, they want president obama to turn around and say i'm not giving them to you and if you refuse to raise the debt ceiling i'm just going to do it, if you don't like it, sue me. is this likely? >> well, i don't think it's a likely outcome and i think if it ever came to that that the president would almost certainly lose some of his administration's lawyers have said as much. and basically what it comes down to, there's a passage in the 14th...
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at the end of february there is the triple threat, the automatic spending cuts, the debt ceiling, and a continuing resolution to fund the government. there are also two pieces of legislation that embarrassingly congress dropped the ball on last year are, relief for victims of hurricane sandy and renewal of the violence against women act. there is the farm bill that sets farm subsidies and food aid for the poor. there is postal reform, as the usps hemorrhaging $25 million a day and may need a bail-out, and the pie in the sky, the if only they could get their act together and actually do something wish list items, meaningful changes to the nation's gun laws and immigration reform, which the 11 million undocumented workers in this country are counting on. more than just a full plate, this is a jam packed enchilada of responsibility. joining us now from washington is the sade of capitol hill, boat shoe enthusiast and my celebrity dopplerleganger, nbc's luke russert. a man, i will say, who does not really take a vacation, luke. you have been in the trenches this whole holiday season, my fr
at the end of february there is the triple threat, the automatic spending cuts, the debt ceiling, and a continuing resolution to fund the government. there are also two pieces of legislation that embarrassingly congress dropped the ball on last year are, relief for victims of hurricane sandy and renewal of the violence against women act. there is the farm bill that sets farm subsidies and food aid for the poor. there is postal reform, as the usps hemorrhaging $25 million a day and may need a...
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. >> this sequestration -- this spending cut today was done a year ago and they raised the debt ceiling. they're a year behind. and you work for bill clinton. and i am an admirer of many of bill clinton's economic policies. bill clinton, gingrich, a handshake was a handshake. they said they cut spending, they cut spending. they said they'd reform welfare, they reformed welfare. these guys, it's like a floating crap game. i can't figure out who's on first and the money is going into which sewer. >> i do think ultimately it's not going to be the debt ceiling. that's one where congress almost by definition is going to lose. it's a poor place to have this discussion. it's going to happen in and around sequestration. and you made a point earlier about the fact why don't the republicans come up with a clear idea and clear frame. i think that applies to both democrats or republicans and i would submit the first side that does it in a clear big way that provides a bigger context and framing is going to be much stronger position. that's where the fight's going to take place. >> there is one clea
. >> this sequestration -- this spending cut today was done a year ago and they raised the debt ceiling. they're a year behind. and you work for bill clinton. and i am an admirer of many of bill clinton's economic policies. bill clinton, gingrich, a handshake was a handshake. they said they cut spending, they cut spending. they said they'd reform welfare, they reformed welfare. these guys, it's like a floating crap game. i can't figure out who's on first and the money is going into which...
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this one over rizing the debt ceiling. republicans will not agree on taking on more debt without cuts on medicare, medicaid, and other social services. >> i think tax reform ought to be revenue neutral as it was back in the reagan years. we resolved that issue. with don't have this problem because we tax too little. we have it because we spend way, way too much. we settle the tax issue. the question is now can we address the single biggest threat to america's future. that's our excessive spending. >> some say this stand-up could be worse than the fiscal cliff fight. house minority leader nancy pelosi says the president should bypass the debate all together and sign the new debt ceiling into law. she told "face the nation" viewers that president has the 14th amendment on his side which states that the nation's debt shall always be paid. >>> po >>> pelosi met with hundreds of quaints and colleagues to talk about last year's chag lengs and accomplishments and this year's goals. in 2013 the democratic party will continue to fo
this one over rizing the debt ceiling. republicans will not agree on taking on more debt without cuts on medicare, medicaid, and other social services. >> i think tax reform ought to be revenue neutral as it was back in the reagan years. we resolved that issue. with don't have this problem because we tax too little. we have it because we spend way, way too much. we settle the tax issue. the question is now can we address the single biggest threat to america's future. that's our excessive...
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he also says that he's not going to cut spending along with a debt limit hike. fiscal cliff behind us on the focus turns to spending. spear boehner cited a new poll showing 72% of americans agree with him. but any increase in the debt limit must be accompanieby an equal amount in spending cuts. senator john cornyn saying that if the president intends the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new senate majority leader is saying that it may be necessary to partially shut down the government in order to secure the fiscal well-being of our country. the looming deadline for action has been obvious. and in every instance the white house has purposely blow up the process in a shameless attempt to sre cheap political points. "the washington post" reported the top ally in the senate may not be fully on board with his approach. his imperious stance, if you will. senator harry reid reportedly warned mr. obama is refusal to negotiate on the debt limit and the sequester cld be
he also says that he's not going to cut spending along with a debt limit hike. fiscal cliff behind us on the focus turns to spending. spear boehner cited a new poll showing 72% of americans agree with him. but any increase in the debt limit must be accompanieby an equal amount in spending cuts. senator john cornyn saying that if the president intends the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new...
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if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do you make of that? the republicans were in a much weaker bargaining position. what speaker boehner was doing anything that taxes went up at midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income taxes and they didn't. in this case from the president keeps more than what speaker boehner caved. the. gerri: you make a good point. i wanted to respond one more thing, which i found interesting. steve moore of "the wall street journal" said we had heard that i'm not going to negotiate with the president anymore and
if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do...
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ceiling battles or alternately on the spending cuts and as far as jack lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot to be done and i think appointing a somewhat more political person to the choices second chair will also indicate that obama means business is terrific doing this and in terms of ways to tackle the debt then there's been talk of a one trillion dollar platinum coin to be minted as a way to resolve the over sixteen trillion dollar debt do you see this is feasible is it crazy is it is a good idea how do you see this. theoretically is a very good idea isn't it if you have too much state you can just mend some coins and you're o
ceiling battles or alternately on the spending cuts and as far as jack lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the...
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ceiling will require one dollar of spending cuts over the next ten years. do you think john boehner can deliver on that to his party? >> i think he absolutely can deliver. he delivered on it last time. i think he'll be able to do it again. this is actually a fight with republicans not only anxious for but needs to happen. the president has presided over four $1 trillion deficits in a row. never presented a budget that any member of his own party was willing to vote for. the democratic senate hasn't produced a budget at all in three years. come on, it's time -- revenue portion of this has been settled in the fiscal cliff deal. i cooperated with the administration on that, a lot of my colleagues did as well. i think we've shown a great deal of good faith. it's time for the president to come across and get serious about the spending cuts and reform he said is necessary. >> does that mean if the boehner rule goes into in effect that this deal would mean some type of review monthly? every month at raising the debt limit? >> no, i actually think that's a very sho
ceiling will require one dollar of spending cuts over the next ten years. do you think john boehner can deliver on that to his party? >> i think he absolutely can deliver. he delivered on it last time. i think he'll be able to do it again. this is actually a fight with republicans not only anxious for but needs to happen. the president has presided over four $1 trillion deficits in a row. never presented a budget that any member of his own party was willing to vote for. the democratic...
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they also did come up with a plan to deal with the debt ceiling and the budget resolution -- yeah. all of this and the fighting holding back america's growth. i'll tell you how to fix it right after this. >>> okay. so the american economy is adding jobs, but not really as robustly as you would want. take a look. you've got an economy that sells 14.4% underemployment rate and 39% of the people who have been out of work are long-term unemployed. that's still a problem. over the last year, the economy adding on average 153,000 jobs each month, well below the 200,000 to 250,000 you really want for a real and durable recovery. want to know why job growth remains so sluggish? look no further than washington, d.c. i want to bring back zanny bedoes, bob herbert. that uncertainty from planning businesses and the hiring. is this the new normal? >> i think it is. i hate to say t i wee have to get used to the fact that wz is in this environment where it will keep kicking the can down the road. it's becoming like europe. i hate to say that. but it's not going to go away. the next two months wil
they also did come up with a plan to deal with the debt ceiling and the budget resolution -- yeah. all of this and the fighting holding back america's growth. i'll tell you how to fix it right after this. >>> okay. so the american economy is adding jobs, but not really as robustly as you would want. take a look. you've got an economy that sells 14.4% underemployment rate and 39% of the people who have been out of work are long-term unemployed. that's still a problem. over the last...
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should we cut spending to raise the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is how much the government pays for what they buys. . one common machine gun is $37 apiece. another is $47 apiece. i've thousand dollars apiece for assault rifles. maintenance cost of airplanes. who will pay that much money? host: how would you change things? caller: gets new vendors. more companies can manufacture stuff. nobody can build submarines for us other than general dynamics. they are building seven new destroyers at $7 billion apiece. host: what do you think about tying it to the limit in the debt limit increase? should we not increase the debt limit unless spe
should we cut spending to raise the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is...
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from automatic spending cuts to raising the debt ceiling to paying for uncle sam to stay open, the battle lines are drawn. how will that fight play out? we'll ask two key congress american. democrat chris van hollen and republican jim jordan. >> a new republican voice challenges the grand old party to find a different vision. a new man in town with a message that champions opportunity. will the party establishment listen? we'll get a fresh perspective from senator ted cruz. from spending to immigration to the new gun control debate will the new congress be able to get past toxic party sanship to get things done for voters? we will ask our sunday panel to read the political tea leaves all right now on "fox news sunday." and hello again from fox news in washington. after side stepping the fiscal cliff the country now faces an economic triple threat of even greater scale. at stake, automatic spending cuts, government funding and the full faith and credit of the united states. with bruises still fresh from the last dustup, early jabs already flying. joining me to talk about this are two influ
from automatic spending cuts to raising the debt ceiling to paying for uncle sam to stay open, the battle lines are drawn. how will that fight play out? we'll ask two key congress american. democrat chris van hollen and republican jim jordan. >> a new republican voice challenges the grand old party to find a different vision. a new man in town with a message that champions opportunity. will the party establishment listen? we'll get a fresh perspective from senator ted cruz. from spending...
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with multiple budget crises ahead like the debt ceiling and automatic spending cuts, the continuing budget resolution, the people who watch capitol hill say the partisanship and brinkmanship will be as bitter as ever. cnn's national political correspondent jim acosta explains why. >> reporter: after surviving a failed coup led by his own members beleaguered house speaker john boehner wants to take the same fractured party into battle. in a closed door meeting with house republicans a source in the room tells cnn boehner said he will demand budget cuts larger than any increase in the nation's debt limit. with the fiscal cliff behind us boehner told his members the focus turns to spending. that puts republicans in congress back on the collision course with the white house after the president insisted earlier this week he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table one
with multiple budget crises ahead like the debt ceiling and automatic spending cuts, the continuing budget resolution, the people who watch capitol hill say the partisanship and brinkmanship will be as bitter as ever. cnn's national political correspondent jim acosta explains why. >> reporter: after surviving a failed coup led by his own members beleaguered house speaker john boehner wants to take the same fractured party into battle. in a closed door meeting with house republicans a...
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the debt ceiling, the continuing resolution to fund the government, and then the sequester spending cuts that have been delayed for 60 days. no one in the republican conference is talking about a default on our sovereign debt. but we do need to use these moments to address the spending explosion that we've seen in the last four years of the obama administration. >> are you saying you want to say debt ceiling, maybe set that aside and focus more on the other two? >> i'm saying the treasury has more than enough tax receipts every month to pay the interest on our sovereign debt. so there's nobody but barack obama who's talking about a default on our sovereign debt. we can prioritize payments on a monthly basis to ensure there's no default. then we can have the hard negotiations necessary to get spending back under control. >> you are saying, hey, don't raise the debt ceiling. make treasury -- >> unless there's real spending cuts, unless there's real structural reform -- >> even though this is about previous spending? you were a business consultant. it is hard to sit there looking backwards.
the debt ceiling, the continuing resolution to fund the government, and then the sequester spending cuts that have been delayed for 60 days. no one in the republican conference is talking about a default on our sovereign debt. but we do need to use these moments to address the spending explosion that we've seen in the last four years of the obama administration. >> are you saying you want to say debt ceiling, maybe set that aside and focus more on the other two? >> i'm saying the...
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look sequestration was put on the table through the last debt ceiling debate. do you know how much we have cut as a result of that? nothing. it's time for us to be serious and for republicans to be serious about cutting spending. >> steve, the senators in the democratic senate do not want to cut any spending or entitlements and that spending sequester which was postponed for two months will probably be postponed for another six months or another six years. maybe they'll cut $1.35 out of something, but that's the reality. nothing is going to get cut. >> well, larry, the truth is i don't think there are many politicians that want to cut spending or they could pass a pill to do so tomorrow and the house and the senate could pass a bill and take it to the president. in all likelihood if you got something that was passed in both houses the president would sign it. but nobody up there is serious about deficit reduction. i agree with kate. look at how well it worked out for newt gingrich. this is something that the republicans would be blamed for. if they do it, they'
look sequestration was put on the table through the last debt ceiling debate. do you know how much we have cut as a result of that? nothing. it's time for us to be serious and for republicans to be serious about cutting spending. >> steve, the senators in the democratic senate do not want to cut any spending or entitlements and that spending sequester which was postponed for two months will probably be postponed for another six months or another six years. maybe they'll cut $1.35 out of...
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ceiling, automatic spending cuts and the deficit. live coverage gets started at 12 eastern. >> i think that that collectivization of the minds of america's founding fathers is particularly dangerous because, as i say so often in the book, they were not a collective unit. and presenting them as such tends to dramatically oversimplify the politics of the founding generation. and then it comes to be used as a big battering ram to beat people over the heads with in ways that i think are both historically incoherent and rhetorically unsound. >> michael austin on what he calls the deep historical flaws by conservative commentators. he shares his views with george washington associate professor of law david fontana on booktv's "after words" sunday at 9 p.m. and midnight eastern on c-span2. >> now, homeland security and state department officials testify about potential abuse of refugee programs by terrorists. the testimony includes a case where two iraqi nationals were given refugee status in the u.s. and later tried to send weapons and mon
ceiling, automatic spending cuts and the deficit. live coverage gets started at 12 eastern. >> i think that that collectivization of the minds of america's founding fathers is particularly dangerous because, as i say so often in the book, they were not a collective unit. and presenting them as such tends to dramatically oversimplify the politics of the founding generation. and then it comes to be used as a big battering ram to beat people over the heads with in ways that i think are both...
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ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> so, karen, since this fight's going to be all about the cuts, what's the strategy for democrats to pull some leverage of their own? >> well, look, i think the leverage is in a couple things, number one, that the president has said he's unwilling to let this debt ceiling conversation be a part of the conversation that needs to be -- that needs to happen over cuts and the rest of the sort of fiscal issues. and i think part of it is, i mean, look at the polling, i mean, when you start, just purely political negotiating tactic, when you start at defcom five and say we are willing to shut the government down and it's not -- as some of these guys would say, you can't just shut down a little piece over here, a little piece over there, no. i went through it in the clinton administration, when you shut it down, you shut it down and that's a very dramatic step to take and i think saying that right out of the box suggests an unwillingness to have any kind of ne
ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> so, karen, since this fight's going to be all about the cuts, what's the strategy for democrats to pull some leverage of their own? >> well, look, i think the leverage is in a couple things, number one, that the president has said he's unwilling to let this debt ceiling conversation be a part of the conversation that needs to be -- that needs to happen over cuts and the...
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. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> leverage? this is a battle about real people. real americans. the gop's willing to take this couns country hostage. and for ransom, they want massive cuts to programs americans need to survive. threatening to take the economy is not lev rarj. it's stupidity. joining me now is chris hays, host of "up with chris hayes" here on msnbc. thank you both for being here this evening. >>> melissa, here we go again. the gop has a strategy to hold the economy hostage. does that make any political sense? >> it does for them. look, we heard it from ryan directly. which is we are without real political power, right? they've got a majority in the house, but exclusive there. there are three branchs of government, they are one house and three branchs and minority overall in the government. so what they have to deal with are not real chips. what they have are these sort of moments, these opportunities that emerge. and, so, for them, political, the idea is, okay, debt ceiling should be a no-brainer. it should be e
. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> leverage? this is a battle about real people. real americans. the gop's willing to take this couns country hostage. and for ransom, they want massive cuts to programs americans need to survive. threatening to take the economy is not lev rarj. it's stupidity. joining me now is chris hays, host of "up with chris hayes" here on msnbc. thank you both for being here this evening. >>>...
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will republicans be able to force spending cuts in exchange for lifting the debt ceiling? that's next. >>> plus don't file your 2012 tax return just yet. the irs might not be ready for it. gerri willis explains coming up. we'll get into that. first as we do at this time every day let's take a look how oil is trading, again reflecting the market's, well, modest reactions today, drifting slightly lower almost unchanged at 92.89 a barrel. we'll be right back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. ashley: the battle for the fiscal cliff is over. whew. let's move onto the next cliff. u.s. is set to hit the debt ceiling in about two months and the big question will the new congress do better with deadlines than the old once. i will give you an answer and my next guest is cautiously optimistic. here is allison fraz
will republicans be able to force spending cuts in exchange for lifting the debt ceiling? that's next. >>> plus don't file your 2012 tax return just yet. the irs might not be ready for it. gerri willis explains coming up. we'll get into that. first as we do at this time every day let's take a look how oil is trading, again reflecting the market's, well, modest reactions today, drifting slightly lower almost unchanged at 92.89 a barrel. we'll be right back. ♪ [ cows moo ] [ sizzling ]...
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ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past theliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of the taxpayers it gave them a permanent current tax law and took uncertainty out. but from another perspective it wasn't very brave. in the end we taxed rich people to spend on the current programs and we kicked down the road cutting any new ones so it really wasn't a solution to the debt and it was not a great solution to avoiding a recession. >> pelley: so you start us looking -- picking up on looking forward where robert reich started already and so did maya. but the debt issues, the debt limit issue, that's the next thing to come. >> the next thick to come isn't dealing with the d
ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past theliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of...
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Jan 12, 2013
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ceiling to go up unless there is a dollar for dollar tradeoff in cuts. >> the last deal went through without the spending cuts. the president does have some authority, doesn't he, to take care of the debt limit on his own. is there a compromise between that and getting bipartisan support for an agreement? >> right. any lawful steps. that is the big mystery, what are the lawful steps. two steps that people are talking about. one that is seemingly quite legal but sort of wacky sounding and one is questionably legal but mainstream. wacky one would be minting a trillion dollar coin. totally legal. president has the authority to make coins out of platinum and whatever denomination. in theory he could have one coin and composite ted at federal reserve and pay down that for several months. who would pay for that? you get enough platinum and declare the value is trillion dollars and it's legal and the federal government could write checks against that one coin. it is legal. the more mainstream one is questionable legality. president itself he doesn't think he has the legality to do this, to
ceiling to go up unless there is a dollar for dollar tradeoff in cuts. >> the last deal went through without the spending cuts. the president does have some authority, doesn't he, to take care of the debt limit on his own. is there a compromise between that and getting bipartisan support for an agreement? >> right. any lawful steps. that is the big mystery, what are the lawful steps. two steps that people are talking about. one that is seemingly quite legal but sort of wacky...
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Jan 5, 2013
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we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because president obama has no intention of solving it. hasn't given us a plan. this is going to go on time and time and time again. >> all right. let's be clear what republicans are talking about when they say spending cuts. they want major cuts to the big three, medicare, medicaid and social security. if overall spending was the issue, there wouldn't be a problem. president obama already signed the 2011 budget control act, which included $1.7 trillion in government spending cuts. in reality, the best plan to reduce the deficit comesro
we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because...
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Jan 5, 2013
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that was part of the debt ceiling. then we had, remember, graham rudman. that was supposed to discipline spending. that was part of the debt ceiling. the convention of the last two or three decades has been to use the debt ceiling as a tool to get serious about cutting spending. >> mohammed el ari is the ceo of pimco, one of the largest investors in bonlds. president obama appointed him to chair the global development council. congratulations on that. businesses and markets want certainty in the economy in order to invest and hopefully promote growth. we've averted the fiscal cliff barely but have three more potential cliffs awaiting. america's economy has been slowly picking up steam. could washington damage america's economic prospectings with the way these things are being done? >> yes, it could damage and has been damaging because we've been growing below potential. as you point out and as stephen said and i agree, we have yet another drama coming up in the next few weeks because we have to deal with the three issu
that was part of the debt ceiling. then we had, remember, graham rudman. that was supposed to discipline spending. that was part of the debt ceiling. the convention of the last two or three decades has been to use the debt ceiling as a tool to get serious about cutting spending. >> mohammed el ari is the ceo of pimco, one of the largest investors in bonlds. president obama appointed him to chair the global development council. congratulations on that. businesses and markets want certainty...
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Jan 12, 2013
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>> we're past the fiscal cliff and we're looking at the three debt ceiling which has to be raised, the croots board spending cuts, the so-called sequester march 1 and at the end of march the government runs out of money to operate and the republicans will make an issue out of that. i think geithner was shrewd. he's leaving on january 25, timothy geithner says, so he's telling the senate i'm not sticking around until you confirm jack lew. either you confirm him or you'll deal with the deputy. lew will have a hectic first couple of months. gwen: this has been a remarkably stable economic team with the president. we've had tim geithner there the entire time, gene sperling has been there the entire time and now we're expecting for the head of the fod leave and that's more upheaval. >> it is true that jack lew has been part of the establishment. the president likes people with whom he's comfortable but there's a huge decision coming up. ben bernanke's term is up in january 2014. it's clear he doesn't want another term and that's a big decision of lasting consequences. gwen: it never calms d
>> we're past the fiscal cliff and we're looking at the three debt ceiling which has to be raised, the croots board spending cuts, the so-called sequester march 1 and at the end of march the government runs out of money to operate and the republicans will make an issue out of that. i think geithner was shrewd. he's leaving on january 25, timothy geithner says, so he's telling the senate i'm not sticking around until you confirm jack lew. either you confirm him or you'll deal with the...
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ceiling negotiations and the sequestration cuts and also a bumping earnings season, alcoa is nothing to brag about, and then we get through that and go through the end of the year and i think gains are backloaded. that was goldman's position. >> makes sense. what's your take on the third quarter, typically good because you've got the holiday spending but certainly a different kind of quarter with the dysfunction and the fiscal cliff and the uncertainty over the economy? >> when we saw the third quarter be reported, we saw a huge buildup of inventory in almost every region of the world. everything ranging from commodities, to industrial equipment, to autos so fourth quarter, some of that inventory got worked through, but it probably has kept the profits down, maybe the margins are not going to be able to recover as quickly, and i think that's creating a little bit of risk to the current quarter. >> all right. gentlemen, thanks very much. great conversation. appreciate your time. let's get to bob pisani who has been following the market all day. bob, what are you seeing right here? >>
ceiling negotiations and the sequestration cuts and also a bumping earnings season, alcoa is nothing to brag about, and then we get through that and go through the end of the year and i think gains are backloaded. that was goldman's position. >> makes sense. what's your take on the third quarter, typically good because you've got the holiday spending but certainly a different kind of quarter with the dysfunction and the fiscal cliff and the uncertainty over the economy? >> when we...
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ceiling if the president will work with us to address spending cuts, i think that's a winning political argument. >> i think it's very interesting. i am worning your take and the fact that the way that this deal was constructed over the cliff, the debt ceiling and the sequestration are bog going to happen around the same time. to me, that sets the stage -- finally -- and this is the optimist, for a big deal that takes care of both of those things. am i naive or can you imagine a scenario where the deal is done and our major fiscal issues are solved with one, big bargain? >> i feel like i am talking to john lennon. i want to imagine a perfect world where we can all win. you can protect the powerful and you can also protect the weak, protect the people. i want to see that happen. look, let's face facts. the $16 trillion debt we have right now -- we rescued the banks to the tune of more than $16 trillion. i am trying to find a way for us to both win together. i think there is a way for us to do that. but we have to put the wars on the table. somehow, we don't talk about afghanistan. we are
ceiling if the president will work with us to address spending cuts, i think that's a winning political argument. >> i think it's very interesting. i am worning your take and the fact that the way that this deal was constructed over the cliff, the debt ceiling and the sequestration are bog going to happen around the same time. to me, that sets the stage -- finally -- and this is the optimist, for a big deal that takes care of both of those things. am i naive or can you imagine a scenario...
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we are going to see only cuts as sort of an agreement around this debt ceiling. so does that impact certain sectors and earnings? >> maybe. but we're a wash in liquidity again. we're in that type of market. >> yes. >> i think the economy is going to end up being far stronger than people realize. that will take over and overtake the fiscal austerity. however we get there, i don't think we're going to do europe in terms of austerity. we're not doing greece. these guys are not ready to do that type of deal. i doubt the president will get a trillion dollars in tax increases and in spending cuts. >> we'll leave it there guys. final word, jack. go ahead. >> how we get there doesn't matter much. over the weekend they're going after the energy industry. whether they can get that done or not. that's to be determined. but there's some real sector implications as to how we see this austerity measures coming together. >> good point. thanks, gentlemen. we appreciate it. we'll be watching the markets ahead of earnings for sure. >>> more than 250 retail executives rub elbows at
we are going to see only cuts as sort of an agreement around this debt ceiling. so does that impact certain sectors and earnings? >> maybe. but we're a wash in liquidity again. we're in that type of market. >> yes. >> i think the economy is going to end up being far stronger than people realize. that will take over and overtake the fiscal austerity. however we get there, i don't think we're going to do europe in terms of austerity. we're not doing greece. these guys are not...
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>> any discussion about the debt ceiling must include a spending cut, serious discussion and movement and action about spending cuts and reforms that will reduce our debt. the american public is tired about us kicking the can down the road, tired of the do-nothing congress. the senate hasn't passed a budget in over four years. we learne learn for the fifth yr running we have a deficit now for the fifth year in a row of over a trillion dollars. that is unsustainable, immoral, wrong for the future of our children and as a mother of three and protector of american's future we are going to attack this crisis and make sure we get to the bottom of all of i that as we move forward. cheryl: i say this in all honesty, good luck to the both of you and the 113th congress. we will be watching. thank you. dennis: i wish them luck. facebook try to create some buzz around their midi even media evt week. setting up this invite that simply says, an to see what we e building. while the invitation is rather mysterious, the time of the event coming near ces comes to wonder they might announce their own s
>> any discussion about the debt ceiling must include a spending cut, serious discussion and movement and action about spending cuts and reforms that will reduce our debt. the american public is tired about us kicking the can down the road, tired of the do-nothing congress. the senate hasn't passed a budget in over four years. we learne learn for the fifth yr running we have a deficit now for the fifth year in a row of over a trillion dollars. that is unsustainable, immoral, wrong for the...
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neil: they said, you just watch neil debt ceiling comes up we'll get serious then are we? >> it is already to get -- it is going to be hard to get cuts, what washington does not want to do is cut any. anything. republicans lost their mojo as they went along, obama said, if you hold this up, i am going to point a finger at you, the republicans should have said fine. what are your ideas? that never came through. neil: steve, you wanted mitt romney to win, but was the election take away that morning said no to cutting down government because democrats seem to be behaving by demanding that en tightments -- entitlements are off the table. what do you think? >> no, the republicans won the house. and they control the house, and republicans did that because they want to cut spending. i think that american impeachment, fundamentally in the heartland, in small, understand we have a revenue issue here, and a spinning issue in the country. already, we try revenue thing that is we drove off the cliff, and they you know threw them a bone with some revenue, now the spending cuts have to
neil: they said, you just watch neil debt ceiling comes up we'll get serious then are we? >> it is already to get -- it is going to be hard to get cuts, what washington does not want to do is cut any. anything. republicans lost their mojo as they went along, obama said, if you hold this up, i am going to point a finger at you, the republicans should have said fine. what are your ideas? that never came through. neil: steve, you wanted mitt romney to win, but was the election take away that...
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Jan 10, 2013
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this debt ceiling limit and the fight that is ensuing. tim get near is leaving january 25th. that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
this debt ceiling limit and the fight that is ensuing. tim get near is leaving january 25th. that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by...
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cuts otherwise they don't want to raise the debt ceiling. those two are really tied together, why would you not agree to that? >> right now is not the time to cut spending dramatically. we are faced with a struggling economy, a struggling recovery and every bit of government spending you can't comes out of the economy. if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10% of gdp in one month. that would send the economy back into recession, unemployment would skyrocket again, we would be far worse off. we need a balanced approach to deficit reduction. we started on that track and need to continue. ashley: congressman ron, responded you can. >> my good friend is totally wrong. it is not government spending that will stimulate the economy. we need to leave those dollars in the hands of job producers and family businesses, the hands of consumers instead of sending it to the federal government in washington d.c.. we have to cut
cuts otherwise they don't want to raise the debt ceiling. those two are really tied together, why would you not agree to that? >> right now is not the time to cut spending dramatically. we are faced with a struggling economy, a struggling recovery and every bit of government spending you can't comes out of the economy. if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10%...
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they have to make it up in the fiscal debt ceiling increase. they have to insist on spending cuts. what it means is having lost once on december 31st, they are tougher to negotiate the next time around. >> they always said it would come to a political game with the chicken or the debt ceiling. >> correct. >> see you soon. >> got breaking news right now. stunning news coming into the cnbc newsroom. what is it? >> for the third time since 1965, baseball writers of america did not elect a single person into the baseball hall of fame. this a big deal because a lot of players associated with the steroid jer gentleman were up. i want to give people percentages here. barry bonds received 36.2% to get in. roger clemens, mark mcguire 16 ppt 9 and sammy sosa 12.5%. shock numbers there. the closest to get in is craig bijo. 68% plus. in terms of the order. so none of those players talking clemens, and barry bonds and sammy sosa even in the top six. back to you. >> tainted era. >> yes it is. >> thank you very much. before we go to break, check out thing that makes you go hhmmmm. a new survey sh
they have to make it up in the fiscal debt ceiling increase. they have to insist on spending cuts. what it means is having lost once on december 31st, they are tougher to negotiate the next time around. >> they always said it would come to a political game with the chicken or the debt ceiling. >> correct. >> see you soon. >> got breaking news right now. stunning news coming into the cnbc newsroom. what is it? >> for the third time since 1965, baseball writers of...
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republicans are saying absolutely, no rise in the debt ceiling without an equal number of spending cuts. democrats are saying we're not negotiating with you as all, because as whyte white house press secretary jay carney said look what happened when we tried that in 2011 it resulted in a credit rating downgrade. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. it would be irresponsible to flirt with default. we saw what happened in the summer of 2011 when congress did flirt with default. >> and i think we can conclude from the fiscal cliff debate, maria, is that congress and the white house won't reach an agreement before they absolutely have to, and don't rule out possibility that the white house could yet invoke constitutional authority to unilaterally raise that debt limit if congress is not willing to play ball with them. >> we'll be wag. thanks very much. how far can washington push this debt ceiling fight before damage is done to the economy? an economist with ftn financial joins us and st
republicans are saying absolutely, no rise in the debt ceiling without an equal number of spending cuts. democrats are saying we're not negotiating with you as all, because as whyte white house press secretary jay carney said look what happened when we tried that in 2011 it resulted in a credit rating downgrade. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. it would be irresponsible to flirt...
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the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is hey ha to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like to take tough positions but we do not like to make tough calls. >> i think we will see something inherently different. i think the president is serious when he says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth warren coming to terms over legisl
the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is hey ha to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. advice is' thoughtful, but when asked if they would expect -- accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like...
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they are going into this debt ceiling debate, though saying we the u.s. -- if we don't cut spending to an equivalent amount, that we're in danger of turning go greece. here is the senator quote . . . so let me -- let me just ask you about that, though. because people often compare the u.s. to greece if in fact we don't slash spending. is that a realistic concern? >> no, for a variety of reasons. first of all greece has been in default about 50% of the time over the last 150 years. the u.s. has never defaulted. number 2, the u.s. government is borrowing at near historic low rates about 1.9% on a ten-year treasury bond. the greek government is borrowing at i think around ten right now, but some time during the past year the cost for greek borrowing on a ten-year basis was in the 40% range. so the rest of the world is saying to us, we believe your economy is strong. we believe you can easily adjust your spending and revenue lines over time to handle that long-term debt problem that is out there. right now the debt to gdp ratio in the u.s. is around 70. in greece it is around 150. >> jenni
they are going into this debt ceiling debate, though saying we the u.s. -- if we don't cut spending to an equivalent amount, that we're in danger of turning go greece. here is the senator quote . . . so let me -- let me just ask you about that, though. because people often compare the u.s. to greece if in fact we don't slash spending. is that a realistic concern? >> no, for a variety of reasons. first of all greece has been in default about 50% of the time over the last 150 years. the...
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the whole debt ceiling business. the domestic and defense cuts postpone for two months by the fiscal cliff deal kick in. also known as sequester around these parts. of course, march 27th, the big the continuing resolution that funds the entire government expires. that may be where things truly heat up. mitch mcconnell drew a line in the sand saying though republicans are willing to work on tax reform as part of upcoming budget negotiations, new tax revenue is, "absolutely off the table." >> we've resolved the tax issue now. it's over, it's behind us. >> the tax issue is over. >> the tax issue is over, finished, completed. >> that may be mcconnell's view and not the view from the white house or democrats. they say new revenue is needed, mainly by scaling back tax breaks for the welty. >> these loopholes where people can park their money on some island off shore and not pay taxes, these are things that need to be closed. we can do that and use the money to reduce the deficit. >> is that done now? is the revenue side of
the whole debt ceiling business. the domestic and defense cuts postpone for two months by the fiscal cliff deal kick in. also known as sequester around these parts. of course, march 27th, the big the continuing resolution that funds the entire government expires. that may be where things truly heat up. mitch mcconnell drew a line in the sand saying though republicans are willing to work on tax reform as part of upcoming budget negotiations, new tax revenue is, "absolutely off the...
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. >> the debt ceiling wants a blank check cut to him. he would make it so that he could say whatever he want and there were no limits on the debt. he set this matter up. >> under the constitution, only the congress can send money. the senator and colleagues voted for the debt and we must pay it. the president is exactly right. it should be non-negotiateiable to pay the lebts. that should be nonnegotiable. >> congress and the house and the senate have been raising the debt ceiling according to the law to keep it going. dozens and dozens of times. we had no debt ceiling. >> congress every few years, every two or years was forced to raise the debt. last time it was a big deal. >> it has been for a while now. even president obama voted against raising the debt. >> that was shameful. he now said he regrets that. i'm with you. he should have never cast that vote. america must pay its bills. those are not obama's debts. >> if the president holds to what he is saying, i am not negotiating and the republicans are not going to raise it unless we c
. >> the debt ceiling wants a blank check cut to him. he would make it so that he could say whatever he want and there were no limits on the debt. he set this matter up. >> under the constitution, only the congress can send money. the senator and colleagues voted for the debt and we must pay it. the president is exactly right. it should be non-negotiateiable to pay the lebts. that should be nonnegotiable. >> congress and the house and the senate have been raising the debt...
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this president has made clear he not only wants the debt ceiling raised. let's not forget, he wanted the debt ceiling eliminated. that is the kind of negotiating that he is putting forward even though he said he is going to have to negotiate. that is what he said for a long time. if the gop plays his cards right and sticks to the spending see kwaester, i think that will put obama back think the defense. stick around. we have much more cooking for you. but look, i shothought obamacar was supposed to keep costs down. we are going to tell you why. later on, team obama going all out an gun control. i'm glad they are meeting with the nra. but now senator feinstein wants to ban gun control. we'll be right back. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card fr
this president has made clear he not only wants the debt ceiling raised. let's not forget, he wanted the debt ceiling eliminated. that is the kind of negotiating that he is putting forward even though he said he is going to have to negotiate. that is what he said for a long time. if the gop plays his cards right and sticks to the spending see kwaester, i think that will put obama back think the defense. stick around. we have much more cooking for you. but look, i shothought obamacar was...
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ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top cabinet position. and, she's the latest of several high-profile women to depart, including secretary of state hillary clinton and lisa jackson, administrator of the environmental protection agency. along with the president's earlier nominations-- for state, the pentagon and the c.i.a.-- that's raised questions about a loss of diversity in the cabinet. but yesterday, white house spokesman jay carney said the president's record on diversity should speak for itself. >> i mean, the increase in the representation of women in senior positions is dramatic-- it's
ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top...
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act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown. house speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that will definitely be a battle between house speaker boehner and president obama. president obama has already said he's not getting into that debate. jennifer johnson, capitol hill, news4. >>> a water-rich meteorite helped researchers prove that there could be life on mars. the rock, which was formed 2.1 billion years ago has ten times more water than any other martian meteorite. it's been nicknamed black butty and weigh being 11 ounces. >>> the parking lout -- that shows you the tail gaiters there, four hours before the game. this week will be a great day. if you're thinking about heads out this evening, you will need the colts. it's been blowing toward the north all day long, but starting to move into the rest of the region. we're starting to see windchills really dropping. 46 was the high, above the average high of 43. that coming after a low of 27 this morning. the c
act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown. house speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that will definitely be a battle between house speaker boehner and president obama. president obama has already said he's not getting into that debate. jennifer johnson, capitol hill, news4. >>> a water-rich meteorite helped researchers prove that there could be life on...
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we have yet to cut one dime from the last debt ceiling agreement and here it is time to do it again. we've got to stop the madness. . . living with moderate to severe rheumatoid arthritis means living with pain. it could also mean living with joint damage. help relieve the pain and stop the damage with humira, adalimumab. for many adults with moderate to severe ra, humira is clinically proven to help relieve pain and stop joi damage. so you can treat more than just the pain. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. blood, liver and nervous system problems, serious allergic reactions, and new or worseng heart failure have occurred. before starting humira, your doctor should test you for tb. ask your doctor if you live in or have been to a region where certain fungal infections are common. tell your doctor if youhave had, are prone to infections or have symptoms such as fever, fatigue, cough, or sores. you should not start humira if you have any kind
we have yet to cut one dime from the last debt ceiling agreement and here it is time to do it again. we've got to stop the madness. . . living with moderate to severe rheumatoid arthritis means living with pain. it could also mean living with joint damage. help relieve the pain and stop the damage with humira, adalimumab. for many adults with moderate to severe ra, humira is clinically proven to help relieve pain and stop joi damage. so you can treat more than just the pain. humira can lower...
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Jan 11, 2013
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ceiling debate to be died to spending cuts which we desperately needs. he obviously -- he wants a fight. what do you make of the strategy that he's employed. >> i think what's happened to him is he feels that by winning a second term, with a slight addition of democrats in the house and the senate he now is, you know, king of the the world to quote an oscar winner of bygone days. and you noticed in these lists, look at the list of the major appointees, starting with brennan and hagel and these are nobody of independent stature. it's not like the first term where he had a clinton, where he had a gates, where he had people who could be a team of rivals. this is a team of essential, you know, fact totems. he wants to rule and he wants to govern and he will not let anybody stand in his way and i think that's what he's saying and he will take on any fight in order to get his people. he's announcing he wants to govern alone. >> sean: will they get confirmed? >> all of them, yes. i think in the case of hagel, i say the odds he gets a yes vote are about 3-2, a s
ceiling debate to be died to spending cuts which we desperately needs. he obviously -- he wants a fight. what do you make of the strategy that he's employed. >> i think what's happened to him is he feels that by winning a second term, with a slight addition of democrats in the house and the senate he now is, you know, king of the the world to quote an oscar winner of bygone days. and you noticed in these lists, look at the list of the major appointees, starting with brennan and hagel and...
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two senators are making that threat, and speaker john boehner says he's ready to use the debt ceiling fight to get the spending cuts that he wants. fasten your seat belts. >>> also, a few days late, but the house finally voted for aid to hurricane sandy victims. you'd think a no-brainer. but the conservative club for growth promised to punish members for approving the aid, and 67 house republicans voted no. we're going to ask an opponent of aid to defend that one. >>> plus, the movie "zero dark thirty" has already stoked controversy by suggesting that perhaps torture led to the killing of osama bin laden. now the senate is looking into whether the filmmakers had inappropriate access to confidential cia information. >>> and leave it to vice presidential joe biden. >> hey, mom, how are you? good to see you. i'm joe biden. your smile lights up the whole chamber. spread your legs. you're going to be frisked. if you need help on your pecs, let me know. look at that guy still working out. >> his glad handing yesterday has led to snickers from critics. >>> finally, michele bachmann is at it
two senators are making that threat, and speaker john boehner says he's ready to use the debt ceiling fight to get the spending cuts that he wants. fasten your seat belts. >>> also, a few days late, but the house finally voted for aid to hurricane sandy victims. you'd think a no-brainer. but the conservative club for growth promised to punish members for approving the aid, and 67 house republicans voted no. we're going to ask an opponent of aid to defend that one. >>> plus,...
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act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown as speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that would be a battle. the president has already said he will not debate with congress to pay bills it's already racked up. live on capitol hill i'm jennifer johnson. jim and wendy, back to you. >>> we're just getting started here at 4:00. we have a preview of some of the best flicks coming to the silver screen in the next few weeks. >>> and congresswoman nancy pelosi is doing moonlighting. >>> after popular demand the during the time first lady michelle obam wore is now on sale where you can buy what was a one of a kind gown. (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in history? because everyone d
act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown as speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that would be a battle. the president has already said he will not debate with congress to pay bills it's already racked up. live on capitol hill i'm jennifer johnson. jim and wendy, back to you. >>> we're just getting started here at 4:00. we have a preview of some of the...
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ceiling unless they get spending cuts. i guess my question to you congressman nadlor. you have a proposal, it's not yours, this emanated from a commenter on a blog. but it, i think, pretty sound, actually. explain your proposal, the proposal that's out there that you are now advocating. >> you put it in context first. >> yes. >> the republicans have suddenly invented this notion that we bargained about raising the debt ceiling, to reduce spending in order to get their votes for increasing the debt ceiling. the president said he won't negotiate on that, an he's quite right. what they're really saying is by not raising the debt ceiling, we're not going to pay the bills that we voted to incur. we're going to permit the country to default and cause economic chaos. and destroy the country. they're basically saying we're going to blackmail everybody in the country. absolutely illegitimate. it's like an old gangster movie where someone says, nice economy you got there, it's going to blow up if you don't pay me protection money. t
ceiling unless they get spending cuts. i guess my question to you congressman nadlor. you have a proposal, it's not yours, this emanated from a commenter on a blog. but it, i think, pretty sound, actually. explain your proposal, the proposal that's out there that you are now advocating. >> you put it in context first. >> yes. >> the republicans have suddenly invented this notion that we bargained about raising the debt ceiling, to reduce spending in order to get their votes...
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and we're hearing about fiscal cliff and debt ceiling and money here and there and cuts and whatnot. it is about what the republicans want to take from the lower-income americans. that is the issue. and our next guest, bernie sanders, wants action. and so do the american people. i was struck by his essay in the huffington post that was titled "the soul of america." so well put. because folks, this is, as i said, an ideological battle. and the deck is basically stacked against you if you're in the middle class or below that. we're experiencing more income inequality now than we have during any time in a period of history since 1928. the top 1% owns 42% of the country's financial wealth. 1% of americans own 42% of the country's wealth. as for the bottom 80%, they own only 5% of the wealth. yet despite those kinds of statistics, the republicans and the big money donors who back them are aiming for more. we've heard all the rhetoric. we don't have enough revenue. well, wait a minute. we've got too much revenue going in. it's a spending problem. but we all know the reality of it. republic
and we're hearing about fiscal cliff and debt ceiling and money here and there and cuts and whatnot. it is about what the republicans want to take from the lower-income americans. that is the issue. and our next guest, bernie sanders, wants action. and so do the american people. i was struck by his essay in the huffington post that was titled "the soul of america." so well put. because folks, this is, as i said, an ideological battle. and the deck is basically stacked against you if...
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ceiling as leverage for more spending cuts. insiders on capitol hill have been told to prepare for chuck hag hagel's nomination for defense secretary. at the same time, a white house spokesperson says the president has not made a final decision yet. congress passed a hurricane sandy relief bill that provides 9.7 billion to the national flood insurance program, nearly out of money, republican leadership took heat from both parties. the house is set to vote on additional sandy aid. worth nearly $52 billion on january 15th. the senate is recessed until the 21st. >>> president obama and the fi
ceiling as leverage for more spending cuts. insiders on capitol hill have been told to prepare for chuck hag hagel's nomination for defense secretary. at the same time, a white house spokesperson says the president has not made a final decision yet. congress passed a hurricane sandy relief bill that provides 9.7 billion to the national flood insurance program, nearly out of money, republican leadership took heat from both parties. the house is set to vote on additional sandy aid. worth nearly...
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Jan 10, 2013
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ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top cabinet position. and, she's the latest of several high-profile women to depart, including secretary of state hillary clinton and lisa jackson, administrator of the environmental protection agency. along with the president's earlier nominations-- for state the pentagon and the c.i.a.-- that's raised questions about a loss of diversity in the cabinet. but yesterday, white house spokesman jay carney said the president's record on diversity should speak for itself. >> i mean, the increase in the representation of women in senior positions is dramatic-- it's
ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top...
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spending a lot of them thought that the debt ceiling should not be increased. basically they believe that their job is to obstruct barack obama and then once there is a republican president in place, to have a better business climate with more deregulation or the funding of programs that have never quite been near and dear to them. yes, i think they do believe that. flashing forward a little bit, we have that fiasco of 2011. when we were taken to the brink of a fiscal cliff what we were about to see again, the thinking on the part of the house republicans leadership was maybe our tea party question will realize that compromise is not such a bad thing. the opposite occurred. they went home and the people tend to be the activists of their party and those people tend to be the tea party and they were the ones screaming and asking why did you accept a deal? there have been mixed messages and it is likely that we will see mixed signals from these people. >> the mixed freshmen are members of congress and they think the way, if only we could control them. it indicates
spending a lot of them thought that the debt ceiling should not be increased. basically they believe that their job is to obstruct barack obama and then once there is a republican president in place, to have a better business climate with more deregulation or the funding of programs that have never quite been near and dear to them. yes, i think they do believe that. flashing forward a little bit, we have that fiasco of 2011. when we were taken to the brink of a fiscal cliff what we were about...
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my getting ready to rip up voter's card if the debt ceiling is raised without comparable spending cuts. the physical cliff was 41-1. i will not vote again in this country if it comes up to that. guest: do not give up on voting. is one thing -- that is one thing i beg you n
my getting ready to rip up voter's card if the debt ceiling is raised without comparable spending cuts. the physical cliff was 41-1. i will not vote again in this country if it comes up to that. guest: do not give up on voting. is one thing -- that is one thing i beg you n
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if not, if we're looking at a debt ceiling rising and that is a difficult situation. melissa: jonathan, real quick, last word. we're out of time. go ahead. >> this is the individual who signs the currency. he needs to be the fiscal voice of reason in the white house. jack lew is on record saying he doesn't believe big cuts are needed, big changes are needed. he is more of a surgical, small cut type of guy. this is exactly the wrong approach given our fiscal issues. melissa: we'll end on that. fantastic power panel. come back soon. thank you very much. nothing says can thing like scoring an oscar. the academy awards nominees are out. how much does it pay if you win? we'll crunch the numbers next. >>> plus the worst flu season in a decade is sweeping the country but the outbreak could make the economy fall ill. we'll explain coming up. do you ever have too much money? definitely don't have many oscars, that's for sure. ♪ . look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva hel
if not, if we're looking at a debt ceiling rising and that is a difficult situation. melissa: jonathan, real quick, last word. we're out of time. go ahead. >> this is the individual who signs the currency. he needs to be the fiscal voice of reason in the white house. jack lew is on record saying he doesn't believe big cuts are needed, big changes are needed. he is more of a surgical, small cut type of guy. this is exactly the wrong approach given our fiscal issues. melissa: we'll end on...
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and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what do you want them to cut? >> well, from your perspective on the democratic side, the progressive side, there is an opportunity here for the republicans to confuse a lot of people. debt ceiling, government shutdown, you know, a lot of misinformation out there, who to believe, and, you know, a lot of average americans really aren't schooled up on exactly what all of this means. that's why i think that gingrich may have done the country a favor right there by cutting right to the chase on what it would really mean. but what do the democrats have to do in this campaign? >> i think do what i heard a cl
and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what...
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Jan 5, 2013
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and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what do you want them to cut? >> well, from your perspective on the democratic side, the progressive side, there is an opportunity here for the republicans to confuse a lot of people. debt ceiling, government shutdown, you know, a lot of misinformation out there, who to believe, and, you know, a lot of average americans really aren't schooled up on exactly what all of this means. that's why i think that gingrich may have done the country a favor right there by cutting right to the chase on what it would really mean. but what do the democrats have to do in this campaign? >> i think do what i heard a cl
and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what...
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and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what do you want them to cut? >> well, from your perspective on the democratic side, the progressive side, there is an opportunity here for the republicans to confuse a lot of people. debt ceiling, government shutdown, you know, a lot of misinformation out there, who to believe, and, you know, a lot of average americans really aren't schooled up on exactly what all of this means. that's why i think that gingrich may have done the country a favor right there by cutting right to the chase on what it would really mean. but what do the democrats have to do in this campaign? >> i think do what i heard a cl
and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what...
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. >> i wanted to ask you because the big fight that we're -- is looming is over the debt ceiling but also sequestration, and those defense cuts and, look, defense is part of everybody's bread and butter to a certain degree, but really that hurts republicans. they want to play hardball on this, and it could be damaging to their base. >> it could be very damaging. not just to their base, but to the country. especially if it's done in the way that sequestration sort of forces it to be done. no question, as i said before, that the defense budget is really bloated and needs to be taken down, and there's a huge disconnect between what the united states needs to do in the world and the defense budget, which seems to lag two or three decades behind where it should be. so there's a big job to do there. the sequestration and, again, if the republicans force that to happen, just takes a meat clever to stuff you don't want to take a meat clever to. it's against their real interest. >> bloated like the lunch budget for this show. there's a difference between how many salami sandwiches we need and
. >> i wanted to ask you because the big fight that we're -- is looming is over the debt ceiling but also sequestration, and those defense cuts and, look, defense is part of everybody's bread and butter to a certain degree, but really that hurts republicans. they want to play hardball on this, and it could be damaging to their base. >> it could be very damaging. not just to their base, but to the country. especially if it's done in the way that sequestration sort of forces it to be...
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if they don't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy. the consequences are drastic. look, the bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers. everyone. president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the american people. we also need to raise more revenue. the fiscal cliff only raised $600 billion of revenue. we need to raise another $600 billion in revenue and we've got to find a way to do that, as well. >> i constantly, in my role as a talk radio host, hear the spending is out of control. and if this is spun as republicans standing up to all of that spending and saying enough is enough, i think the win could be at the gop's back. >> well, i don't know that the wind is at our back. first of all, governor, nice to see you again. i would tell you that spending is the problem
if they don't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy. the consequences are drastic. look, the bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers. everyone. president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the...
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the reality is going to be that we're going to have to raise the debt ceiling. it's going to cost us more money. we're going to go into debt more , and that's going to cause a ripple effect internationally in globally. decrease our debt rating, maybe double-a-2 and a. neil: side of the keys as will blink. the last downgrade the world went merrily on. what will it take? >> that such a good point. not only go merrily on, but the dollar actually got stronger after the downgrade because it created lot of uncertainty. you know what, there's a point at which everything changes. all of a sudden people realized, these guys really cannot get their act together. neil: a handle on your head >> i know that. sometimes it takes that. you know, my guess is you're going to get a downgrad i don't see how these guys get together. neil: my guess i it has no effect. >> i bet you a nickel it does have an effect. the dollar, this one doesn't have an effect, the next one, and i think this country needs a crisis. i think the crisis will be the dollar becomes trash and inflatioheads up
the reality is going to be that we're going to have to raise the debt ceiling. it's going to cost us more money. we're going to go into debt more , and that's going to cause a ripple effect internationally in globally. decrease our debt rating, maybe double-a-2 and a. neil: side of the keys as will blink. the last downgrade the world went merrily on. what will it take? >> that such a good point. not only go merrily on, but the dollar actually got stronger after the downgrade because it...
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lori: so as we approach this battle over spending cuts with regard to the debt ceiling we know that jack lew has been sympathetic, supportive of president and his agenda, supporting entitlements, supporting spending and what not. so what's your take whether or not we'll get meaningful spending cuts with a treasury secretary like jack lew? >> well, i think when you look at jack lew's background and compare him to say tim geithner, the present treasury secretary what you see is a couple things. one, this is a guy who knows capitol hill very well. he has spent a lot of years on the congressional staff. all of it working for democrats. he worked for tip o'neill. he worked for joe moakly. unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shri
lori: so as we approach this battle over spending cuts with regard to the debt ceiling we know that jack lew has been sympathetic, supportive of president and his agenda, supporting entitlements, supporting spending and what not. so what's your take whether or not we'll get meaningful spending cuts with a treasury secretary like jack lew? >> well, i think when you look at jack lew's background and compare him to say tim geithner, the present treasury secretary what you see is a couple...
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sequester is terrible, terrible program cuts. but it's a lot less horrible than the debt ceiling. so any time you're thinking that you have to bargain over that, you are bargain around that and the president can stand firmer on that than he could, i think, on the debt ceiling crisis. so i think his strategy of saying i'm not going to negotiate with you on that is paying off. >> now, jared, it was interesting to me when newt gingrich who did close government in the '90s, newt gingrich predicted that the republicans were in on this. watch this. >> everybody's now talking here comes the debt ceiling. i think that's frankly a dead loser. because in the end you know it's going to happen. the whole financial system is going to say this will be a gigantic problem. you can't be responsible. and they'll cave. >> when you have newt gingrich saying they'll cave. and newt gingrich did this, i mean, you really have to question how the republicans even took this long to start equivocating on what they're going to do. >> i think everything that you've played so far and joan's comments are convin
sequester is terrible, terrible program cuts. but it's a lot less horrible than the debt ceiling. so any time you're thinking that you have to bargain over that, you are bargain around that and the president can stand firmer on that than he could, i think, on the debt ceiling crisis. so i think his strategy of saying i'm not going to negotiate with you on that is paying off. >> now, jared, it was interesting to me when newt gingrich who did close government in the '90s, newt gingrich...
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>> well, here are the facts: we have to raise the debt ceiling. leader mcconnell and speaker boehner have said that in the past, that its inconceivable that we would default. and that's one issue, and that is an issue that is congresss responsibility, and they need to fulfill their responsibility and make sure that the united states of america, as it has throughout its existence, pays its bills. separately, we continue to have challenges embodied in one instance by the sequester that we need to resolve in concert with congress. and the need to do that presents an opportunity to in a balanced way achieve further significant deficit reduction. the president, as you know, twice now has pursued a big deal with speaker boehner that in its totality would have achieved over $4 trillion in deficit reduction over a decade. because of the nature of those negotiations and the inability of the speaker to, in the end, reach a compromise with the president, we have found ourselves needing to take sort of smaller steps in pursuit of that overall goal. but the go
>> well, here are the facts: we have to raise the debt ceiling. leader mcconnell and speaker boehner have said that in the past, that its inconceivable that we would default. and that's one issue, and that is an issue that is congresss responsibility, and they need to fulfill their responsibility and make sure that the united states of america, as it has throughout its existence, pays its bills. separately, we continue to have challenges embodied in one instance by the sequester that we...
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the debt ceiling, massive spending cuts, the sequester, and a continuing budget resolution. also, the jobs recovery remains mediocre. only 155,000 jobs added to the economy. jobless rate is 7.8%. wages and incomes are barely budging, yet the prices of all kinds of things will be higher this year, notably grains, meat -- you can expect to pay 3% to 4% more for your cheeseburgers. mail, there will be a postal price up again. resident prices going up. and public transit. a lot of cities weighing higher costs to get to work. >> thanks again for the bummer of the news. brought to you by christine romans. >> home prices are rising. >> thank you, christine. it's always a joy to have you on the show. >> happy monday, soledad. >> still ahead on "starting point," president obama could face another battle in congress. tell you why some members of this new congress are already putting up a fight. next, politics to the max with former congress members connie and mary bono mack. >>> we've got john berman with a look at the day's top stories. >> more on the rape case in the small town of s
the debt ceiling, massive spending cuts, the sequester, and a continuing budget resolution. also, the jobs recovery remains mediocre. only 155,000 jobs added to the economy. jobless rate is 7.8%. wages and incomes are barely budging, yet the prices of all kinds of things will be higher this year, notably grains, meat -- you can expect to pay 3% to 4% more for your cheeseburgers. mail, there will be a postal price up again. resident prices going up. and public transit. a lot of cities weighing...
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. >> the cuts will have to be dealt within just two months and the government could hit the debt ceiling. it would make the last couple weeks look like peace and harmony in comparison. >> and there are now 20 female senators, most ever in u.s. histry. diane sawyer sits down of 19 of them for an interview tonight at 5:30. >> still ahead, you'll want to see this play by play description from a very young sportscaster going viral. she's correct. the preschooler that gets it right. >> a soon to be setting sun from our camera. i'm spencer christian ask will have the accu-weather forecast coming up. >> and taking a look at traffic right now, on the bay bridge toll plaza, it's very easy to mick your way into san francisco. if you >>> this is cute. we've heard of arm chair quarterbacks and experts are getting younger and younger. one is making herma]zóy around you tube. michigan, south carolina. michigan needed four yards late in the outback bowl. you can see the runner came close to getting the yellow line and reaching it. but was just short. officials asked for a measurement. and it was two i
. >> the cuts will have to be dealt within just two months and the government could hit the debt ceiling. it would make the last couple weeks look like peace and harmony in comparison. >> and there are now 20 female senators, most ever in u.s. histry. diane sawyer sits down of 19 of them for an interview tonight at 5:30. >> still ahead, you'll want to see this play by play description from a very young sportscaster going viral. she's correct. the preschooler that gets it...
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. >> well, tell me if you're a member of congress and we're faced with this debt ceiling and people are starting to talk about cutting back medicare, which is the better bargain? and which is better for the people who need it? >> well, at the end of the day, if you have a medication that can improve the lot of people with these terrible diseases, that is a lot cheaper in the long run than paying for all of the hospital care and other care that you're going to need down the road as these people have their chronic conditions. in fact, investing in good medicines that really deliver value to the patient is an economically important way to go. that's a smart way to go. >> and it has to be the same for cerebral palsy, i have to believe. you've got a 20-person trial going on right now. you don't know what the results are. but 400,000 people have this. if you have a pill that could make people to be more physically in control of their lives, i have to believe that's a bargain for america and it's great for the people. >> couldn't have said it better myself, absolutely. >> now, how about epilep
. >> well, tell me if you're a member of congress and we're faced with this debt ceiling and people are starting to talk about cutting back medicare, which is the better bargain? and which is better for the people who need it? >> well, at the end of the day, if you have a medication that can improve the lot of people with these terrible diseases, that is a lot cheaper in the long run than paying for all of the hospital care and other care that you're going to need down the road as...
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ceiling limit. they've got a situation where th they're obviously talking about cuts. but one of the problems is people don't really wants cuts. and, also, i think the other reality is if you look at what's happened so far, i think we've cut out quite a bit. revenue that's come in so far, actually, i think it's been a third or fourth of that. so thal eve got a real challenge going forward in terms of what are we going to speak with. >> michelle, as long as it's out there where you have some just overtly saying shutdown is good, i'll do shutdown. don't we need the leadership like mcconnell to say unequivocally, we're not talking about a shutdown nou. it's not a good thing. even nut gingrich, the architect of the shutdown in the '90s says it's not good. it makes one wonder are the others speaking in a set or tone that they can use as an option and that that would be disastrous for this country and the economy. >> i think if the cliff negotiations taught us anything, you can't listen to the hardline lu
ceiling limit. they've got a situation where th they're obviously talking about cuts. but one of the problems is people don't really wants cuts. and, also, i think the other reality is if you look at what's happened so far, i think we've cut out quite a bit. revenue that's come in so far, actually, i think it's been a third or fourth of that. so thal eve got a real challenge going forward in terms of what are we going to speak with. >> michelle, as long as it's out there where you have...
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if they don't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy. the consequences are drastic. look, the bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers. everyone. president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the american people. we also need to raise more revenue. the fiscal cliff only raised $600 billion of revenue. we need to raise another $600 billion in revenue and we've got to find a way to do that, as well. >> i constantly, in my role as a talk radio host, hear the spending is out of control. and if this is spun as republicans standing up to all of that spending and saying enough is enough, i think the win could be at the gop's back. >> well, i don't know that the wind is at our back. first of all, governor, nice to see you again. i would tell you that spending is the problem
if they don't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy. the consequences are drastic. look, the bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers. everyone. president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the...
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and the possible default of the government when the country reaches the debt ceiling. house speaker john boehner, who was re-elected, despite rebellion among some conservatives, says he hopes the new congress will rise to meet the country's extraordinary challenges. rob and paula? >> only time will tell. should be interesting, as always. tahman bradley, live in washington. thanks, tahman. >>> and there was a moment of bipartisanship, believe it or not. dozens of democrats and republicans, cheering on illinois senator, mark kirk. nearly a year after suffering a major stroke, kirk made the slow climb to the front door of the senate, with a little help from the v.p. and another colleague. he conquered all 45 steps. we'll take a look at some of the other memorable moments, coming up in just a minute. >>> and a special visitor comes to newtown, connecticut, today. former congresswoman gabby giffords is meeting with families of the 26 school attack victims. meantime, the school's children head back to class for their second day today in a new building, amid very tight securi
and the possible default of the government when the country reaches the debt ceiling. house speaker john boehner, who was re-elected, despite rebellion among some conservatives, says he hopes the new congress will rise to meet the country's extraordinary challenges. rob and paula? >> only time will tell. should be interesting, as always. tahman bradley, live in washington. thanks, tahman. >>> and there was a moment of bipartisanship, believe it or not. dozens of democrats and...
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ceiling, its borrowing limit. today, senate minority leader mitch mcconnell insisted the tax issue is resolved but demanded spending cuts. >> i wish the president would lead us in this discussion rather than putting himself in a position of having to be dragged kicking and screaming to the table to discuss the single biggest issue confronting our future. >> reporter: also tonight, an administration official tells nbc news that the president is likely to name his selection for cia director tomorrow, the person who would replace david petraeus. the two men who are being considered as top candidates right now are the homeland security and counterterrorism adviser to the president, john brennan, and on the left of your screen you see the acting cia head, mike morrall. lester? >> thank you. >>> in addition to the battles over the debt ceiling and cabinet nominations, the president has a lot more on his plate in the coming weeks, including a fight over guns after the tragedy in newtown. and there's word tonight about wh
ceiling, its borrowing limit. today, senate minority leader mitch mcconnell insisted the tax issue is resolved but demanded spending cuts. >> i wish the president would lead us in this discussion rather than putting himself in a position of having to be dragged kicking and screaming to the table to discuss the single biggest issue confronting our future. >> reporter: also tonight, an administration official tells nbc news that the president is likely to name his selection for cia...
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president obama has said he will not negotiate with republicans over raising the debt ceiling. and yet they say that he's going to have to and they're going to make commands on him if he wants to raise it. are liberals going to say that obama is caving way too soon? >> he's already caved. already by allowing this to go to another day, that was a cave-in. we've heard him say how many times he won't negotiate with republicans. i love this idea. and i think you know, people are saying it is crazy but the other side what they're going to do is very, very crazy. but the president doesn't like to do things like this. and i can't see him actually doing it. >> john: going big? >> i can't see it happening. >> john: let's move on to another fight the president is about to face, the nomination of chuck hagel former republican senator from nebraska, for secretary of defense. rick, what makes chuck hagel harder to get confirmed? his anti-gay comments from 15 years ago his reference to the jewish lobby or the fact that obama likes him for the gig? >> probably the last. because this is all ab
president obama has said he will not negotiate with republicans over raising the debt ceiling. and yet they say that he's going to have to and they're going to make commands on him if he wants to raise it. are liberals going to say that obama is caving way too soon? >> he's already caved. already by allowing this to go to another day, that was a cave-in. we've heard him say how many times he won't negotiate with republicans. i love this idea. and i think you know, people are saying it is...
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ceiling and those pending budget cuts. and if he is confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new greenback that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if, in fact, he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group has already said it opposes any new restrictions on fire arms. among those speaking out is new york's governor. andrew cuomo is urging lawmakers in his state to close loopholes on the state's assault weapons ban. >> this is not taking away people's guns. i own a gun. i own a remington shotgun. i've hunted. i've shot. that's not what this is about. it is about ending the unnecessary risk of high-capacity assault rifles. [ applause ] that's what this is about. >> he was quite fired up today. yesterday rather. results of a new study are sure to fuel the already intense debate over gu
ceiling and those pending budget cuts. and if he is confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new greenback that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if, in fact, he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group has already said it opposes any new...